HB 5505 - Electric Rate Relief

• Establishes a Division of Electricity Policy and Procurement (effective October 1, 2010) within the Public Utilities Control Authority to oversee electricity procurement, conservation, and renewable energy policy with an executive director and three specialized directors.

• Directs the Department of Public Utility Control to develop discounted electricity and gas rates for low-income customers by June 30, 2011, requiring home energy audits as a prerequisite and recovering costs through systems benefits charges and public benefits charges.

• Increases the Public Utilities Control Authority from five to seven members (effective from passage) and modifies the Connecticut Energy Advisory Board to advise the new Division of Electricity Policy and Procurement.

• Creates an Energy Conservation Management Board (effective July 1, 2010) to oversee and coordinate conservation programs for electricity, natural gas, and deliverable fuels, with authority to retain an administrator and approve comprehensive conservation plans.

• Allows electricity-intensive industrial customers to apply for special distribution rate contracts of up to 10% reduction for five-year terms (maximum $3 million annual aggregate cost) provided they participate in conservation and load management programs.